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Increased turnover limit for tax credit on sponsorships – Romania

29 July 2019 | newsletters

The turnover limit for the calculation of the tax credit for sponsorships, patronage, and private scholarships has increased from 0.5 % to 0.75 %. The amendment, which entered into force on 29 July 2019, is set forth by Law 156/2019 for amending art. 25 par. (4) lit. i) of Law no. 227/2015 on the Romanian Fiscal Code.

Thus, corporate income tax payers who grant sponsorships, patronage or private scholarships, can deduct the corresponding amounts from the corporate income tax due up to the lesser of 0.75 % of turnover and 20 % of the corporate income tax due.

Law 156/2019 was published in the Official Gazette of Romania no. 625 of 26 July 2019.

 

Authors: Theodor Artenie, Anamaria Tocaci, Alexandra Barbu

Theodor Artenie

Managing Director Tax

T: +40 21 319 67 90
t.artenie@schoenherr.eu

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